Large Capitalization Cryptocurrencies all Plunge into Bear Market Territory
The Cryptocurrency sector tends to trade in unison. The individual cryptocurrencies are highly correlated in price with each other. Today, for example, each one of these cryptocurrencies broke below the levels consistent with Bear Market territory.
Ethereum (ETH) and Ripple (XRP) both peaked on January 4th, 2018. The others, Litecoin (LTC), Bitcoin Cash (BCH) and Digital Cash (DASH) peaked on December 21, 2017 as did the market capitalization leader Bitcoin (BTC). Since their respective peaks, each cryptocurrency is has lost between 50% to 75% of its value.